DAL 46.64 Short

Fundamental Analysis

With Airlines getting business back up and running in a slow fashion, the Airline industry as a whole has to return back to profitability. However it looks like investor confidence is still not bullish, and DAL isn't an exception to this case. For the short-run, there is still a bearish outlook for the industry considering the consistent Covid variants causing havoc.

Technical Analysis
Price volatility since last year month-to-month.
Price is in a downtrend at resistance level of 46.64.
Widening channel with no breakout creating lower lows in the price without higher highs. This is a bearish trend in the near term.
MACD is flat near the zero line.
RSI level at 51.80. A breakout here can signal a potential upward momentum, however confirmation with a breakout at 46.46 is also needed.
Stochastics showing mixed readings so it's not valid.
Fibonacci retracements showing lows have retraced to 23.6 while resistance at 61.8 level has remained steady.
Candlesticks showing that every time there has been a push to the upside, a doji star has confirmed a reversal on several occassions.